Tips on Renting Your First Apartment

Whether you’re a recent graduate looking to move out or someone moving to another location for a new job, renting your first apartment can be both exciting and daunting. On one hand, there’s the freedom of living in your own place. On the other hand, you have to deal with leases, utilities, insurance, and other hassles. Here are plenty of tips on renting your first apartment so you’ll be totally prepared when you do.

Finding an Apartment

With vacancy rates at low levels, especially in dense urban areas, it can be pretty challenging to find an apartment you like. For example, in Los Angeles, the vacancy rate is currently about 3.7%. So, you might have to compromise a bit when making your decision. Here are the factors you should consider in picking an apartment:

Price

This is probably the most important factor. That’s because if you can’t afford to live in a place, it doesn’t matter how good everything else is. Ideally, your housing costs should be roughly 30% of your annual income (after taxes). It shouldn’t exceed 50%. In fact, some landlords won’t even allow you to rent an apartment if your income is too low. Others may require a guarantor (someone who will help pay your rent) with enough income if yours is too low. Don’t have enough money? Try finding a roommate so that you can split the costs.

When checking out apartments, you should also make sure you have enough money to cover all the fees and bills involved. These can include an application fee, a security deposit, a month’s rent in advance (sometimes two: the first and last month’s rent), and utilities. Some places include utilities in the rent, which can help with your budget. In order to pay for everything upfront, try to have the equivalent of a few month’s rent ready.

Also, check to see how much the rent increases over time. If it rises too much, you might not be able to afford to live there after a while. Some apartments have rent control. This restricts the amount the rent can increase every year. For example, in Los Angeles, it’s tied to the Consumer Price Index, which was 3% in 2018. People there can check whether the property has rent control by going to ZIMAS and entering the address. It will be in the “Housing” section.

Location

Another important factor, the location of the apartment should be one of your primary considerations. Remember, you’re going to be living here (and probably paying a lot for it too). You’ll want to take note of the quality of the neighborhood; the availability of public transportation if you aren’t going to drive; the length of your daily commute; the nearby restaurants, supermarkets, and other stores; and how close you are to friends and family. Even the surrounding terrain could be important if you’re using a bike or scooter to get around. Riding a bike uphill is tough, if you haven’t tried.

Apartment Features

For some, the features of an apartment could be important. For example, you might want a pool or a laundry facility. Some apartments come with air conditioning, while in others you’ll need to supply your own. Also, some apartments come with basic appliances and furniture, like a refrigerator, which can save you money. You might also want to check the mailbox setup. A friend of mine who lives in an apartment didn’t particularly care about it at first, but when he wanted to order larger packages, they wouldn’t fit. So, out of concern that they might get stolen if left out in the open, he decided to mail them to me so that he could pick them up later. Not the best solution.

If you’re renting with a roommate or plan to have guests, you’ll also want to check out what the parking is like. There might not be enough room for everyone to have their own car. In that case, you might need to either set up some kind of carpooling plan or use some other form of transportation.

With the vacancy rate as it is, these are things that you might need to compromise on. So think about what you really need and what you merely want.

Apartment Condition

It’s important to tour each apartment in person before deciding on one. What looks good on a website or listing may not be so great when you actually check it out. Some things you should look for are how well the apartment complex is maintained, the general feel of the apartment, whether there are any odd smells (like from mildew or from neighbors who smoke), how well the plumbing works, and the general safety of the facility (things like functional smoke alarms, an accessible fire escape path, and anti-theft measures). If there are any issues, it could be a red flag that the landlord doesn’t really care about or is slow at responding to tenants’ concerns.

One other task that might not be obvious is getting some measurements of the apartment. You don’t want to finalize your moving plans only to find out that your bed can’t fit through the door. Make sure everything you want to bring can fit inside your new place.

Apartment Policies

Some apartment complexes have policies that may be a deal breaker to you. Some apartments don’t allow pets, for example. Others may not tolerate loud noise. Be sure to check these when looking at a property. Also, if you’re joining others in an apartment as a roommate, they may have conditions of their own.

Landlord

Whether it’s to request repairs or talk about a late rent payment, sooner or later, you’re going to have to deal with the landlord. You’ll want to make sure he or she is accessible, prompt, and hopefully not mean. Talk to current or former tenants to get an idea of what the landlord is like.

There is a thing called subletting where you’re temporarily taking over the lease from someone who currently isn’t living there. It’s not legal everywhere, so you need to pay attention to the listing to avoid getting into trouble. In the case that it is legal, you’ll be reporting to both the original tenant and the landlord.

Moving into the Apartment

Now that you’ve found the apartment you want, what’s next? Moving into the apartment and getting settled in can be just as challenging. Here are some things to do so that you won’t be caught unprepared:

Read (and Understand) Your Lease

Your lease should cover all the details about the property, what you’re paying for, and what you’re responsible for. Make sure to read it thoroughly and understand it. In addition, if the person who gave you a tour of the place promised something, make sure it’s written in the lease. In other words, this is a binding contract so anything that isn’t in writing might not be guaranteed. If you don’t understand some of the clauses, have someone else review it like an experienced family member. Some colleges also have lease review services for students and graduates.

The lease includes things like security deposit policies, when your rent is due, whether you’re responsible for fixing up the place when you move out, any fees you need to pay, parking policies, and many other fine details. Take the time to comprehend every bit of it before you sign it.

Get Renter’s Insurance

You definitely should get renter’s insurance. Some landlords even require it. What it does is protect your possessions from damage or loss from theft, vandalism, water damage, fire, or other emergencies.

Set Up Utilities

The utilities you need to deal with are water, electricity, gas (if there’s a gas heater or oven), Internet, and cable/satellite (optional). While some apartments take care of this for you, some don’t. You might need to set up new accounts with utility providers. Consult your lease or your landlord about the policies and processes involved in turning on the utilities.

If the apartment complex offers Internet, you should check the details of the service to see if it’s a good fit for what you’re going to do with it. For example, if you’re going to be doing extensive streaming or gaming, make sure the connection is fast enough. You can also ask current tenants if they’re satisfied with the connection at the times of the day when you’re most likely to use it. If you’re thinking about going with a different provider, be aware that sometimes the rent will include the apartment’s connection anyway, so you’re really paying for two connections. Ask the manager about it if you’re not sure and also about any fees associated with Internet connections, such as separate late fees.

Pack Early and Thoroughly

Get started on packing early so you have more time to figure out if your missing something. You need to pack all the essentials for living. These include tables, chairs, dishes, utensils, cookware, a refrigerator (if not present), a vacuum cleaner, towels, a bed, and so on. Of course, you can just buy many of these things once you move in, but it can get expensive. The more you bring from your previous residence, the more money you save.

Try making a list of things to bring so you don’t forget anything. That list might also help you keep track of everything to pack up when you move out.

Figure Out a Moving Solution

Decide whether you want to move everything yourself (probably with help from family or friends) or hire a moving company. You’ll most likely need to rent a moving vehicle if you decide to do it on your own. It’s generally not that expensive, but driving a large vehicle can be challenging if you’re not confident in your driving skills.

Moving companies on the other hand are much more expensive, but are professionals who can get you moved in faster. Shop around online to make sure you’re hiring a reputable and affordable company. If you do settle for a moving company, make sure to photograph everything before the move (to file claims if anything was damaged) and get a signed and dated written binding estimate (in case the company tries to over-charge you later).

If you opt to buy some of the larger things once you’re moved in, make sure to ask your landlord about the policies on big deliveries. You could also just have them delivered when you’re in the process of moving in so that it’s not out of place.

Change Your Address

Remember to change your address for all relevant profiles. These include mail, credit/debit cards, driver’s license, and any place where you’ve stored a billing/shipping address.

Other Tips

Act quickly. With vacancy rates low, there can be some stiff competition for apartments. In fact, bidding wars aren’t unheard of in some places. Make sure to contact the property as soon as you’re ready to avoid losing it to someone else.
Present yourself as a good tenant. Things like having a good credit score or having all your paperwork (IDs, financial documents, etc.) in order can give the landlord the impression that you’re responsible. With heavy competition, this might give you the edge over other prospective tenants and help you secure the apartment.
Make sure to photograph and document every issue and bit of damage in the apartment before you move in. That way the landlord can’t cite those things as a reason to keep your security deposit.
Don’t be afraid to ask questions. It doesn’t hurt, and you don’t want to get into trouble for something you could have clarified earlier.
Make sure your roommate(s) is trustworthy and signs the lease with you. You don’t want to be in a situation where your roommate just decides to move out for whatever reason, leaving you stuck with the whole rent. You also don’t want to live with a roommate who’s a pain to be with. Discuss chores, guests, bills, and other issues with him or her beforehand.
Try to befriend your neighbors. You might need their help for things like picking up your mail when you’re out. Just remember to return the favor should they ask for help.
Conserve electricity and water whenever possible. Chances are you’re going to be on a tight budget. Doing these can help you save money and give yourself some flexibility in your finances.
Know your rights. Renters have rights, though they vary depending on where you are. These can include things like requirements that landlords maintain the property in a livable state, whether the landlord can evict you for no reason, and whether landlords can enter your apartment. Make sure to familiarize yourself with them so you don’t get scammed.